390m Shiba Inu removed but ‘all is well’ might not hold water

ambcrypto.com:

Shiba Inu [SHIB], the renowned ‘meme-token’ has witnessed significant support from all over the crypto community. Owing to this, various dominant buyers have flocked in to buy the token. And, SHIB’s burning mechanism continues to impress them.

Binance, the largest crypto exchange continues to show support to the SHIB community despite hiccups. This time Binance Card holders, launched in Argentina, could use SHIB to make their purchases and pay bills at over 90 million Mastercard merchants worldwide, both in-store and online.

— Michael Miebach (he/him/his) (@MiebachMichael) August 23, 2022

Following the collaboration, the flagship token did witness some unprecedented traction across the entire crypto network. Especially, the dominant buyers, whales, as they flocked back to acquire the token.

According to data shared by the WhaleStats wallet tracker on its website, the top 100 whales on Ethereum acquired $157,326,168 worth of Shiba Inu. This was equivalent of 11,909,626,646,479 canine tokens. Herein, SHIB comprised around 5% of whales’ holdings.

Needless to say, the said increase in demand also led to an intense SHIB burning procedure to potentially aid its price to register new heights. This case was no different. Especially, now that the community released a new website (ShIB Superstore portal) that burnt Shiba Inu.

At the time of writing, roughly 390 million SHIB moved from circulation over the past 48 hours. Part of it was wired with help of Amazon giant and the new SHIB burn website.

Furthermore, as of 24 August, a total of 213,067,021 SHIB were removed from the supply of the second most popular canine token in